This document discusses the definitions and scope of economics. It is divided into three broad groups: economics as the science of wealth, concerning material welfare, and dealing with allocation of scarce resources. The document also lists several reasons to learn economics, such as to understand society, global affairs, develop businesses, and understand value chains. It notes that Nepal became a member of the WTO in 2004 to ease the study of international trade and development arrangements. Finally, it provides a list of economic terms.

2. Many definitions;
*Whenever six economist are gathered, there are seven
opinions (Mrs Barbara Wooten);
Set of definitions: Divided into 3 broad groups Economics
as science :
*i) of wealth;
*ii) concerning material welfare of man;
*iii) dealing with the problem of allocation of scarce
resources among competing ends;
What is economics

4.  To learn way of thinking:
 To understand society in a better way:
 To understand global affairs:
 To develop successful agricultural business.
 To understand value chain and its implication
 To become successful entrepreneur .
 We can say also for earning money .
 Nepal became member of WTO in 2004; It eases close study
of international economic arrangement for trade, finance
and development.

6. Scope of
economics
Economic
growth
Cost and
production
analysis
Market
structure
pricing
policies
Investment
analysis
Risk and
uncertainly
analysis &
planning
Demand
analysis
and
forecasting

7. Terms
• Economics
• Goods
• Commodity
• Capital
• utility
• wealth
• Firm
• Resources
• Market
• demand
• Supply
• Break even
• Project
• LCC
• TC,TR,MC
• B:C ratio
• Agribusines
• NPV
• NADP
• GDP
• ADS
• APP

13. Cooperatives